Tagged: mortgage assistance

The Federal Housing Administration is on track to run out of money next September and may need a taxpayer bailout, an audit released today found.

Responding to the audit, however, the Obama administration announced a series of measures that they hope will raise enough revenue to keep the agency from seeking government help.

The Wall Street Journal explains:

The federal government has all these ways of paying people to buy houses without actually, you know, paying people to buy houses.

We've talked a lot about two examples of this:

1. The mortgage-interest tax deduction is effectively a government payment to people who are paying a mortgage.

The U.S. government filed a lawsuit against Wells Fargo & Co., today, saying the bank was reckless when it issued federally guaranteed mortgages.

Bloomberg reports:

Transcript

RENEE MONTAGNE, HOST: